Nuveen Short Correlations

NURE Etf

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The current 90-days correlation between Nuveen Short Term and Invesco is -0.19 (i.e., Good diversification). The correlation of Nuveen Short is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Nuveen Short Correlation With Market

Weak diversification

The correlation between Nuveen Short Term REIT and DJI is 0.35 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuveen Short Term REIT and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nuveen Short Term REIT. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Nuveen Etf

0.9	VNQ	Vanguard Real Estate	Pair Corr
0.87	HHH	Howard Hughes	Pair Corr
0.88	XLRE	Real Estate	Pair Corr
0.84	IYR	iShares Real Estate	Pair Corr
0.89	ICF	iShares Cohen Steers	Pair Corr
0.91	USRT	iShares Core REIT	Pair Corr
0.9	IRET	iREIT MarketVector	Pair Corr
0.67	GRNB	VanEck Green Bond	Pair Corr
0.91	CRED	Columbia ETF Trust	Pair Corr
0.8	HPQ	HP Inc	Pair Corr
0.84	TRV	The Travelers Companies	Pair Corr
0.84	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.83	VZ	Verizon Communications	Pair Corr

Moving against Nuveen Etf

0.71	MORE	MORE	Pair Corr
0.65	RTL	Pacer Financial	Pair Corr
0.66	BA	Boeing	Pair Corr
0.4	MMM	3M Company	Pair Corr
0.39	PFE	Pfizer Inc Earnings Call This Week	Pair Corr

Related Correlations Analysis

	EWRE	INDS	BBRE	PPTY	PSR
EWRE		0.07	0.07	0.09	0.1	EWRE
INDS	0.07		0.92	0.89	0.93	INDS
BBRE	0.07	0.92		0.99	0.99	BBRE
PPTY	0.09	0.89	0.99		0.99	PPTY
PSR	0.1	0.93	0.99	0.99		PSR
	EWRE	INDS	BBRE	PPTY	PSR

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Nuveen Short Constituents Risk-Adjusted Indicators

There is a big difference between Nuveen Etf performing well and Nuveen Short ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Nuveen Short's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Treynor Ratio	Potential Upside	Value @Risk	Maximum Drawdown
EWRE	1.01	(0.09)	3.96	2.13	(2.53)	5.19
INDS	0.99	(0.16)	(0.28)	1.77	(1.94)	5.53
BBRE	0.88	(0.12)	(0.17)	1.50	(1.78)	5.52
PPTY	0.80	(0.12)	(0.20)	1.36	(1.70)	5.86
PSR	0.89	(0.14)	(0.24)	1.48	(1.73)	5.43

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